Jonathan Macey

For any director, especially for someone who is head of a committee, you need to have the confidence of the shareholder base.

For me, it's impossible to imagine that Ackman is involved, if he had made up some lie about the company, he hasn't profited from that, because he's still short. In manipulation, at some point you've got to transact the security. Otherwise, there's no point to it.

It's like when the teacher says, 'I know who you are,' the messag... by Jonathan Macey

It's like when the teacher says, 'I know who you are,' the message gets across.

This is extremely high risk. It is really buying a pig in a poke, but apparently a lot of people seem to believe that something can be made of this because the valuation really is soaring.

It is absolutely frightening, we are gamifying and trivializing capital markets — and capital markets are really important.

Weird companies become darlings and suck a lot of oxygen out of the system.

People are going to get burned. I think there will be a lot of missteps.